Insurance Agency Telemarketing – Appointment Setting Elasticity

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June 6th, 2011

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Insurance Agency Telemarketing
Insurance Agency Telemarketing

Recently a client of ours informed us they closed a $750,000 commission from one of the appointments we booked on his behalf. Yes, this was a commission, not a premium.  That’s one of the largest individual sales produced from one of our appointment setting campaigns, and the sale occurred within the first year of the appointment setting campaign.  This particular insurance agency telemarketing campaign is unique in a few ways.  It is a dedicated appointment setting campaign and does not include an eMarketing or webinar component, and it leverages use of both an appointment setter and a senior StartUpSelling Vice President who further qualifies and validates every single appointment to ensure there is a compelling fit between the agency’s skills and the prospects needs.

There is an obvious elasticity when it comes to insurance agency telemarketing. The campaign noted above focuses on high level meetings with senior contacts at very large organizations, which results in perhaps 6 to 8 appointments per month. Some refer to this as whale hunting, and though this term may be politically incorrect, it is nonetheless a reasonably accurate metaphor.

Other insurance agency telemarketing campaigns focus on commissions targets of perhaps $5,000 to $10,000. Depending upon the industry and niche, these can result in 20 or more appointments per month, yielding much higher opportunity volume at lower renewal premiums. And in the middle, of these two targets is the middle market, commissions of perhaps $20,000 to $50,000 which requires appointment activity of approximately 3 or 4 appointments per week for effective results.

Insurance agency telemarketing, or in the case StartUpSelling’s specific version of insurance agency appointment setting, can still yield some impressive results. It has to be done well to be effective, that means no college student bullpen calling centers, and  no incentives for appointment setters to aggressively book appointments. A long term approach is best, and campaigns  will typically record their best result when accompanied by a professional insurance agency eMarketing and web seminar program. And it’s very important that producers utilize a simple and consistent qualification process. For those who have yet to implement a simple and measurable solution, they should try our Insurance Agency Prospect Scorecard. A free version of this is available on our Sales Tools Web Page https://startupselling.com/sales-tools.html, or for more information go to: https://startupselling.com/insurance-agency-marketing.html